Question

Token currency had been introduced for the first time in India by _____________.

Answer 1

D-Muhammad Bin Tughlaq

Answer 2

Answer:

D. Muhammad-bin-Tughlaq

Explanation:

• Muhammad bin Tughlaq was the son of Ghiyasuddin Tughlaq, founder of Tughlaq dynasty in India.

• This scheme by Tughlaq was considered to be failure because, this method did not help the government to overcome the financial crisis.

• After the failure of shifting his capital to Devgiri from Delhi, Tughlaq wanted to overcome the financial crisis by issuing token currency made up of copper which has the same value with that of gold and silver.

• Tughlaq ordered the issuing a large number of coins into the market but failed to check counterfeiting of currrency.

• As a result a large number of fake coins flown into the market.

Thus, the correct option is Muhammad bin Tughlaq.